[He is now talking about what he’d like to see happen. More transparency, more overview, more reserves.]
Such talk is good, Dick... but action would be better.
So get to work - and CLEAN IT UP yourself.
Posted on 10/06/2008 10:04:48 AM PDT by Jack Black
OK. Let's go !!
He was beat up by the libs for making money. He is now talking about what he’d like to see happen. More transparency, more overview, more reserves.
John Mica, a Florida Republican is now asking questions.
That guy Fuld is creeping me out big time. He..uh...talks..uh...so..uh....slow. He seems drugged or something!
Ha ha ha. He’s pointing out the $300,000 that LEH gave to Congress. “You probably bet a little too much on Hillary” LOL.
This guy is really funny. “You’re the villan here, you need to act like the villan”.
Congressman continues:
“OK, let’s look at Fanny Mae, they donated $100 million. You were outlobbied! What do you think about that?? “
That guy Fuld is creeping me out big time. He..uh...talks..uh...so..uh....slow. He seems drugged or something!
He might have taken something to keep him calm, eg. valium or another drug. You can’t blame him when he has to face Commie Democrats in public and be their whipping boy for their attack on the American capitalist free enterprise system.
This is all part of a huge Commie-Democrat conspiracy so they can destroy our economy and get Obama elected so he can turn America into a Communist-Muslim nation.
Turn to CNBC....this British girl is hammering him...
Sure Dick Fuld is being painted a villain.
But if he was tracking things so well...he should have realized he
was in an impossible situation.
And resigned.
Now it seems that he wants people to weep for him.
We now have Rep. Elijah Cummings. He is a member of the racist Congressional Black Caucus.
“Do you agree that Lehman took on excessive leverage, yes or no.” “It’s not that easy. At times our leverage was higher...”
I missed that. I heard it in the backroom.
Media overload.
Hopefully someone gets that up on youtube shortly.
Another Donk questioning. BTW: my C-Span link is iffy on the ‘puter. I put it on the idiot box.
“As I go through Ohio and see abandoned house after abandoned house .. blah blah blah .. “
Now up Kucinich. “Did you talk to Mr. Paulson on a regular basis. This memo says that we have a ‘huge brand with Treasury’ , loves our capital raise. Do you feel that at any time in this process Mr. Paulson mislead you”.
Fuld seems drugged, I agree.
Q: Do you feel you were mislead by the treasury sec.
A: No sir, I do not.
Q: Conf. call 5 days before you said you had adequate capital. Did you mislead your investors? I remind you you are under oath.
A: No.
Q: You have memo saying paulson wants to raise standards, ... was he playing you against Goldman Sachs.
A: No, I certainly hope not.
Q: When did you know JP Morgan was going to make a $5 billion collateral call?
A: I don’t know.
K: addresses the chair: they are lying to their investors or they are being mislead by Paulson.
(K is trying to pin the tail on Fuld.)
A: Collateral call is not the same as a margin call. The call was not to meet risk they held.
Feld: “This is a topic for litigation. I believe the creditors and JP Morgan are having a conversation.”
She’s probably a NAKED SHORT SELLER...they are one of the biggest reasons these banks went down “WHEN THEY DID”, although the banks were on verge of collapse. The Banks were pushed over the edge at this time right before the election for Obama...take a look at the facts.
Feld said they were holding on, and the NAKED SHORT SELLERS drove the bank into bankrupty(bets that do not have to purchase the bet up front, but get weeks-months, to actually produce money to buy the paper being different from SHORT SELLERS, who must buy the bet upfront.) Short sells aren’t as toxic as they keep bank stock from going to high in good times, but can be dangerous in bad time...it was banned until Oct 2nd...and should have stayed banned until after the election.
I guarantee Soros is a naked short seller....
Now, remember Charles Schummer wrote a letter stating that INDYMAC BANK IN CA was about to go under, it wasn’t on anybody’s radar until he said that in that letter...then a run on INDYMAC and FEDS had to take it over.
Reid just recently said an Insurance Company was failing, and every Insurance stock dropped at least 30%.
Now add all that to the Fannie Mae and Freddie Mac debaucle and you have the recipes of toxic waste that shut down the banks...and the CEO’s instead of competing so hard against other banks with a 40-1 reserve ration, should have keep more capital reserve, and used more conservative business practices..however to be competetive they used same high risk techniques that always come back to haunt them.
Adelson is on now, and saying the same thing SHORT SELLING IS GAMBLING PLAIN AND SIMPLE...He should know..lol
Aren’t naked shorts always illegal?
No, it has never been legislated as illegal. It is definately immoral and unethical. All short selling was banned until Oct 2nd, when Government got involved in 700B Bailout...but the Congress did not address it to my knowledge...and now they are back at it.
I’ve got to get to other stuff. Please continue to post ...
Congressional “hearings” have become worse than Communist show trials.
The accused are already guilty. The hearing is not intended to find facts or understand anything with any depth.
Once the hearing (trial) has lasted long enough, it does not matter what action is or is not taken, with any follow-up.
The objective, the public prosecution of “the guilty” and destroying their personal and professional life has been achieved.
Anyone going before a hearing conducted by Congress should, whenever possible, make jokes and otherwise “take the fifth”. You have a better chance in a court of law. At least in a court-of-law you can criticize and challenge your opponents at will; your lawyers can even interrogate them and question their actions and their motives; something not on any agenda of any “Congressional hearing”.
CSPAN is just joining the Obama campaign rules for the day; which is (and was dutifully obeyed by Congress, by just having the hearing): keep “Wall Street” not Freddie and Fannie as the topic of the day.
Notice that whatever happened at Lehman Brothers, they took no taxpayer bailout to make them solvent; they just took normal bankruptcy. So, whatever their CEOS and their investors received and whatever their officers and investors lost, was on their dime, not ours.
But, ever since Freddie and Fannie failed and were put under a conservatorship with the Treasury, with billions of taxpayers money already pumped into them and billions more needed before they are whole again, and the Congressional hearings were held when? Not held. Scheduled? Not scheduled. Planned? Not planned.
The Obama-Pelosi-Reid show intends that the “scandal of Freddie and Fannie” is off the air for now and to be permanently canceled after the election.
That is the number one reason there is hearings in Congress about Lehman Brothers today - Lehman, which has so far cost the taxpayers nothing vs Fred/Fan which have cost taxpayers hundreds of billions with the meter still running!!!
Yeah, I thought Fuld did pretty well. Over on the ‘someone punched him in the face’ thread a lot of freepers seemed to feel he deserved it. Strange, punishment by thuggery for the crime of making too much money doesn’t strike me as particularly conservative.
Guess I’m getting old.
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